It's the start of a brand new week, but the market anxiety that exploded last week continues through today.

Overnight, several key emerging markets got clobbered.

India fell 1.8%. Thailand dropped 2.6%. Jakarta dropped 2.4%.

Elsewhere in Asia, Hong Kong lost 2.1% and Shanghai lost 1%.

The emerging market currency front is also very interesting today. The Turkish lira was getting crushed this morning until the Turkish Central Bank announced an emergency meeting to be held tomorrow. That caused a big surge in the Lira to occur.

European stocks had been falling earlier, but are now in the green. US markets are also higher, thanks in part to strong earnings from Caterpillar, whose shares are up 5% pre-market.